Maryland Medicare eligibility is offered to those turning 65 or those who have a permanent disability after a two-year waiting period at any age.
Most people are curious about their eligibility for Medicare in the state of Maryland. The most popular way to become eligible for Medicare is to turn 65. It is at this time that you will transition from your current insurance plan over into a Medicare type program.
What is Medicare?
Medicare is simply an insurance plan funded primarily by the government through taxes as well as lifetime contributions while you were employed. With original Medicare the government will cover 80% of approved procedures and medical expenses, while you are responsible for the remaining 20% as well as obtaining prescription drug coverage.
How do you qualify for Medicare?
Medicare was originally designed for people turning 65 or older but has since broadened its ability to cover people under the age of 65 as long as certain conditions are met.
One of these conditions is ALS, also known as Lou Gehrig’s disease. With ALS you can immediately apply and be enrolled into Medicare. With ALS you can immediately apply and be enrolled into Medicare. The other instant qualification is for those people that have end-stage renal disease, ESRD.
The last option if you are under 65 is if you have a permanent disability after a two-year wait. How this works is Medicare part A will be sent to you and activated immediately, and after 24 months you’ll be issued Medicare part B. You will need to start paying Medicare part B premiums once you qualify after the 24 month waiting period. However the majority of people must wait until they turn 65 in order to start utilizing Medicare coverage.
Is Medicare automatic?
When you turn 65 you will automatically be sent a Medicare card with hospital part A already activated. The second part of Medicare is activated depending on your current social security situation. If you are turning 65 and have already begun collecting Social Security benefits then you do not need to apply for Medicare part B, it will automatically be given to you.
When you turn 65 you will automatically be sent a Medicare card with hospital part A already activated. The second part of Medicare is activated depending on your current social security situation. If you are turning 65 and have already begun collecting Social Security benefits then you do not need to apply for Medicare part B, it will automatically be given to you.
If you have decided to delay Social Security benefits, then you will need to apply for Medicare part B to go active at the same time as Medicare part A. All this requires is a quick application online or by mail by utilizing this online application found here.
If you delay enrolling in Medicare part B and do not have any other credible coverage from a union or employer, then you may have to pay late enrollment penalty‘s and possibly have your enrollment delayed by several months. This is nothing you want to forget to do, so do it up to three months prior to your 65th birthday month.
Is original Medicare enough coverage for me?
Typically no. Since there is unlimited spending caps inside the Medicare system, you could be financially straddled with a 20% share of cost for all medical procedures and tests. Imagine going into a hospital for several weeks and receiving well over $1 million worth of medical care without any additional Medicare coverage, you will eventually be sent medical bills that could reach up to $200,000.
This 20% exposure is exactly why you need to consider additional Medicare coverage either through a Medicare supplement plan or a Medicare advantage plan.
Medicare only covers up to 20% of your costs. With no limits or spending caps, you could face financial troubles without additional coverage.
Do I use Medicare if I’m still working?
This depends on your employer if they will continue offering you coverage after you turn 65. Most employers don’t because it’s extremely expensive to insure a 65-year-old so they typically want you to jump onto Medicare immediately.
However if you’re lucky enough to have group insurance that will cover you passed 865 you do not need to enroll into Medicare part B. This will save you some money without having to pay Medicare part B premiums each month because you still have credible coverage elsewhere and will not be penalized for doing so. Just remember that you will have Medicare part A activated when you turn 65 but it will not affect your current group coverage.
How do I get Medicare when I retire past age 65?
If you retire from your job sometime after 865 you will be eligible to apply for Medicare part B at any time. You have up to eight months after you lose health insurance coverage to apply for Medicare part B however do not wait this long as you will not be covered during this time period.
If you retire from your job sometime after age 65 you will be eligible to apply for Medicare part B at any time. You have up to eight months after you lose health insurance coverage to apply for Medicare part B however do not wait this long as you will not be covered during this time period.
Medicare part A will go effective on the first day of your 65th birth month and your Medicare part B will go effective when you finally request it to. You will have two different dates printed on your Medicare card one for Medicare part a and one for Medicare part B.
Once Medicare part B is active, you have 63 days in which to enroll into a Medicare advantage plan or a Medicare prescription drug plan. If you are considering a Medicare supplement plan then your window of enrollment is six months from the start date of Medicare part B.
If you miss these enrollment windows you could potential he have to wait many months before the window of opportunity opens up again in the late fall or what we call open enrollment, OEP.
Medicare supplement plans in Maryland operate a little bit differently because you can apply for and be approved for a Medicare supplement plan at any time throughout the year even without an open enrollment. if you wait until after your six month guaranteed issue enrollment., Your application will go through full underwriting and you will need to answer health questions in order to be approved for coverage.
As you can see there’s many options when considering obtaining Medicare coverage as a 65-year-old. If you would like more information or need help with enrolling please give me a call at area code 410-896-1212 or email to me directly at peterpalmiotto@gmail.com.
I am a licensed independent Medicare broker servicing the entire Maryland area.